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December.
In other words, for the steer’s owner to break even on his investment, the animal would have to bring the owner $65.81 per 100 pounds when it goes to market in December. Just to cover the steer’s original cost and the feed it ate, it would have to bring the owner $55.75 per 100 pounds
Agency projection for fed cattle prices this fall show little change in the pattern. A supply-and-demand analysis based on Sept. 1 crop product estimates that corn prices may weaken even further in the next couple of months as the record harvest moves into the pipeline.
Prices of choice steers on the Omaha, Neb. market are expected to average in the range of $52 to $54 per 100 pounds this summer. In the fourth quarter, however, USDA livestock economists say steer prices could rise to $60 to $64 per hundredweight.
Thus, in conjunction with those projections, December prices for Com Belt fed steers might still fall short of the agency’s $66 break-even level. Those projected prices, however, cover the major out-of-pocket costs of the original 600 pound feeder and its six-month feed bill.
95.1%